Cardiff Oncology Inc Financials
This page shows Cardiff Oncology Inc (CRDF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 25 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cardiff Oncology is still a cash-funded development business, where R&D burn dwarfs revenue and financings periodically refill the balance sheet.
A capital raise lifted cash to$51.5M in one year, but the next year ended with only$17.5M . Because operating cash burn stayed near$38M , the balance sheet is functioning as the primary funding source for clinical work rather than as a cushion created by operating activity.
Sales are not yet absorbing overhead: revenue of
The company still looks more equity-funded than debt-funded, with total liabilities of
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Cardiff Oncology Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cardiff Oncology Inc has an operating margin of -8256.3%, meaning the company retains $-8256 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -7123.1% the prior year.
Cardiff Oncology Inc's revenue declined 13.2% year-over-year, from $683K to $593K. This contraction results in a growth score of 50/100.
Cardiff Oncology Inc carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 3.67, Cardiff Oncology Inc holds $3.67 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 72/100.
While Cardiff Oncology Inc generated -$37.9M in operating cash flow, capex of $44K consumed most of it, leaving -$38.0M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Cardiff Oncology Inc generates a -0.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 11/100. This is up from -0.1% the prior year.
Cardiff Oncology Inc passes 1 of 9 financial strength tests. No profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
For every $1 of reported earnings, Cardiff Oncology Inc generates $827.09 in operating cash flow (-$37.9M OCF vs -$46K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Cardiff Oncology Inc generated $593K in revenue in fiscal year 2025. This represents a decrease of 13.2% from the prior year.
Cardiff Oncology Inc's EBITDA was -$48.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 0.7% from the prior year.
Cardiff Oncology Inc reported -$46K in net income in fiscal year 2025. This represents a decrease of 0.9% from the prior year.
Cardiff Oncology Inc earned $-0.69 per diluted share (EPS) in fiscal year 2025. This represents an increase of 27.4% from the prior year.
Cash & Balance Sheet
Cardiff Oncology Inc generated -$38.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 0.5% from the prior year.
Cardiff Oncology Inc held $17.5M in cash against $0 in long-term debt as of fiscal year 2025.
Cardiff Oncology Inc had 68M shares outstanding in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Margins & Returns
Cardiff Oncology Inc's operating margin was -8256.3% in fiscal year 2025, reflecting core business profitability. This is down 1133.2 percentage points from the prior year.
Cardiff Oncology Inc's net profit margin was -7.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.1 percentage points from the prior year.
Cardiff Oncology Inc's ROE was -0.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.1 percentage points from the prior year.
Capital Allocation
Cardiff Oncology Inc invested $35.3M in research and development in fiscal year 2025. This represents a decrease of 4.1% from the prior year.
Cardiff Oncology Inc invested $44K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 45.0% from the prior year.
CRDF Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $41K-83.1% | $243K+102.5% | $120K-0.8% | $121K+11.0% | $109K-27.3% | $150K-9.1% | $165K+1.2% | $163K |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $6.8M+33.3% | $5.1M-38.1% | $8.2M-29.2% | $11.6M+10.5% | $10.5M+7.9% | $9.7M+0.7% | $9.6M+1.5% | $9.5M |
| SG&A Expenses | $6.1M+104.5% | $3.0M-23.1% | $3.9M+17.5% | $3.3M-17.3% | $4.0M+33.3% | $3.0M-3.7% | $3.1M-2.8% | $3.2M |
| Operating Income | -$12.8M-64.2% | -$7.8M+34.6% | -$12.0M+19.0% | -$14.8M-2.7% | -$14.4M-14.4% | -$12.6M+0.2% | -$12.6M-0.4% | -$12.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$12.3M-132.0% | $38.6M+442.8% | -$11.3M+19.3% | -$13.9M-3.8% | -$13.4M-140.0% | $33.6M+383.4% | -$11.9M-0.7% | -$11.8M |
| EPS (Diluted) | $-0.18 | N/A | $-0.17+19.0% | $-0.21-5.0% | $-0.20 | N/A | $-0.25+3.8% | $-0.26 |
CRDF Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $49.2M-20.5% | $61.9M-3.0% | $63.8M-15.8% | $75.7M-10.7% | $84.8M-12.7% | $97.2M+54.5% | $62.9M-4.8% | $66.1M |
| Current Assets | $47.3M-21.3% | $60.1M-2.7% | $61.8M-16.1% | $73.7M-10.9% | $82.7M-13.0% | $95.1M+60.2% | $59.3M-4.7% | $62.2M |
| Cash & Equivalents | $8.5M-51.1% | $17.5M+72.4% | $10.1M-6.0% | $10.8M-55.2% | $24.1M-53.2% | $51.5M+294.8% | $13.0M-48.9% | $25.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $191K+4.9% | $182K-28.3% | $254K-51.7% | $526K+29.9% | $405K-47.6% | $773K+25.1% | $618K+37.0% | $451K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $14.5M-12.3% | $16.5M+10.0% | $15.0M-12.5% | $17.1M+23.0% | $13.9M-2.2% | $14.2M+5.5% | $13.5M-1.2% | $13.7M |
| Current Liabilities | $14.5M-11.8% | $16.4M+11.5% | $14.7M-11.8% | $16.7M+25.4% | $13.3M-1.0% | $13.4M+7.2% | $12.5M0.0% | $12.5M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $34.7M-23.5% | $45.4M-7.0% | $48.8M-16.7% | $58.6M-17.3% | $70.9M-14.6% | $82.9M+67.9% | $49.4M-5.7% | $52.4M |
| Retained Earnings | -$442.4M-2.9% | -$430.0M-1.7% | -$422.8M-2.7% | -$411.6M-3.5% | -$397.6M-3.5% | -$384.2M-3.2% | -$372.4M-3.3% | -$360.5M |
CRDF Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.3M-105.9% | -$6.0M+44.9% | -$10.8M-30.1% | -$8.3M+34.9% | -$12.8M-24.6% | -$10.3M+1.8% | -$10.5M-13.3% | -$9.2M |
| Capital Expenditures | N/A | $0-100.0% | $18K | N/A | N/A | $0 | $0 | $0 |
| Free Cash Flow | N/A | -$6.0M+45.0% | -$10.9M | N/A | N/A | -$10.3M+1.8% | -$10.5M-13.3% | -$9.2M |
| Investing Cash Flow | $3.3M-69.7% | $10.7M+5.8% | $10.2M+303.9% | -$5.0M+65.8% | -$14.6M-423.3% | $4.5M+147.8% | -$9.4M-167.3% | $14.0M |
| Financing Cash Flow | $105K-95.9% | $2.6M+10112.0% | $25K | $0-100.0% | $3K-100.0% | $44.2M+495.0% | $7.4M+260.9% | $2.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRDF Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -31341.5%-28120.5pp | -3221.0%+6757.3pp | -9978.3%+2234.1pp | -12212.4%+982.1pp | -13194.5%-4813.2pp | -8381.3%-744.4pp | -7637.0%+59.4pp | -7696.3% |
| Net Margin | -30109.8%-45990.1pp | 15880.3%+25262.0pp | -9381.7%+2141.5pp | -11523.1%+801.6pp | -12324.8%-34723.8pp | 22399.0%+29583.9pp | -7184.9%+40.9pp | -7225.8% |
| Return on Equity | -35.6%-120.6pp | 85.0%+108.1pp | -23.1%+0.7pp | -23.8%-4.8pp | -18.9%-59.5pp | 40.5%+64.5pp | -24.0%-1.5pp | -22.5% |
| Return on Assets | -25.1%-87.5pp | 62.4%+80.0pp | -17.6%+0.8pp | -18.4%-2.6pp | -15.8%-50.4pp | 34.6%+53.4pp | -18.9%-1.0pp | -17.8% |
| Current Ratio | 3.27-0.4 | 3.67-0.5 | 4.20-0.2 | 4.42-1.8 | 6.22-0.9 | 7.08+2.3 | 4.74-0.2 | 4.97 |
| Debt-to-Equity | 0.42+0.1 | 0.36+0.1 | 0.31+0.0 | 0.29+0.1 | 0.20+0.0 | 0.17-0.1 | 0.27+0.0 | 0.26 |
| FCF Margin | N/A | -2455.6%+6587.8pp | -9043.3% | N/A | N/A | -6844.7%-507.7pp | -6337.0%-674.4pp | -5662.6% |
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Frequently Asked Questions
What is Cardiff Oncology Inc's annual revenue?
Cardiff Oncology Inc (CRDF) reported $593K in total revenue for fiscal year 2025. This represents a -13.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cardiff Oncology Inc's revenue growing?
Cardiff Oncology Inc (CRDF) revenue declined by 13.2% year-over-year, from $683K to $593K in fiscal year 2025.
Is Cardiff Oncology Inc profitable?
No, Cardiff Oncology Inc (CRDF) reported a net income of -$46K in fiscal year 2025, with a net profit margin of -7.7%.
What is Cardiff Oncology Inc's EBITDA?
Cardiff Oncology Inc (CRDF) had EBITDA of -$48.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Cardiff Oncology Inc's operating margin?
Cardiff Oncology Inc (CRDF) had an operating margin of -8256.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cardiff Oncology Inc's net profit margin?
Cardiff Oncology Inc (CRDF) had a net profit margin of -7.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Cardiff Oncology Inc's return on equity (ROE)?
Cardiff Oncology Inc (CRDF) has a return on equity of -0.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cardiff Oncology Inc's free cash flow?
Cardiff Oncology Inc (CRDF) generated -$38.0M in free cash flow during fiscal year 2025. This represents a -0.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cardiff Oncology Inc's operating cash flow?
Cardiff Oncology Inc (CRDF) generated -$37.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cardiff Oncology Inc's total assets?
Cardiff Oncology Inc (CRDF) had $61.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cardiff Oncology Inc's capital expenditures?
Cardiff Oncology Inc (CRDF) invested $44K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cardiff Oncology Inc spend on research and development?
Cardiff Oncology Inc (CRDF) invested $35.3M in research and development during fiscal year 2025.
What is Cardiff Oncology Inc's current ratio?
Cardiff Oncology Inc (CRDF) had a current ratio of 3.67 as of fiscal year 2025, which is generally considered healthy.
What is Cardiff Oncology Inc's debt-to-equity ratio?
Cardiff Oncology Inc (CRDF) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cardiff Oncology Inc's return on assets (ROA)?
Cardiff Oncology Inc (CRDF) had a return on assets of -0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cardiff Oncology Inc's cash runway?
Based on fiscal year 2025 data, Cardiff Oncology Inc (CRDF) had $17.5M in cash against an annual operating cash burn of $37.9M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Cardiff Oncology Inc's Piotroski F-Score?
Cardiff Oncology Inc (CRDF) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cardiff Oncology Inc's earnings high quality?
Cardiff Oncology Inc (CRDF) has an earnings quality ratio of 827.09x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Cardiff Oncology Inc?
Cardiff Oncology Inc (CRDF) scores 38 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.